London-based Dwelly secures over €79.3 million to scale AI-driven rental marketplace
London-based proptech firm Dwelly has secured over €79.3 million in a combined equity and debt funding round, signaling significant investor confidence in its AI-driven approach to the UK rental market. This capital injection is earmarked for accelerating Dwelly's expansion strategy, which involves acquiring and digitising independent letting agencies. The move underscores a growing trend of technology adoption to consolidate and modernise traditionally fragmented service industries. The funding comprises a €36.8 million equity round led by General Catalyst, alongside participation from Begin Capital and S16VC, and a €42.55 million debt facility from Trinity Capital. Dwelly's AI-enabled rollup model integrates acquired agencies onto a unified technology platform, aiming to streamline the entire rental lifecycle. This includes automating tenant-landlord matchmaking, managing maintenance, and optimising rent collection and pricing. Dwelly's ambitious growth targets are set against the backdrop of the UK's vast, yet highly fragmented, letting market, which generates over €115 billion in rent roll annually. By leveraging AI, Dwelly seeks to enhance operational efficiency, improve tenant satisfaction, and boost agent productivity in a sector characterized by extensive manual processes. The company's progress, having already acquired eight agencies and managing over €230 million in gross merchandise value in under a year, highlights its disruptive potential within this established industry.
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